Navigating the complexities of credit card payments can seem like a daunting task for iPhone users. The digital landscape is riddled with misleading and overly technical financial advice, leaving individuals uncertain about the most effective ways to manage their credit cards. This uncertainty transforms financial management into a perplexing journey akin to navigating a maze without a map.
Imagine the consequences of lacking critical information right at your fingertips: missing out on rewards, incurring higher fees, losing money, or inadvertently harming your credit score. The frustration only mounts as you encounter contradictory advice, leading to confusion and concern for your financial health. It’s as if every piece of advice is a mismatched puzzle piece, with time running out on securing your financial future.
Discover a curated selection of articles dedicated to demystifying credit card payments tailored for iPhone users. This collection is crafted to do more than just inform—it’s designed to revolutionise your approach to financial management. Cutting through the noise offers clear, actionable insights catering to your specific needs. Learn to leverage the full potential of your credit cards, from maximising rewards to minimising fees, all easily accessible from your device. Arm yourself with knowledge, take charge of your financial destiny, and make managing your credit cards simpler and a strategic step towards a more secure financial future.
 |  |  |  |  |  |
Revolut Reader | SumUp | Zettle Reader | Dojo | myPOS | |
Cost | £0 | £0 | £0 | £0 | £0 |
Monthly Cost | £0 | £20 | £0 | £20 | £0 |
Transaction Fees | 0.8-2.6% + 2p | 1.69% | 1.5-1.7% | 1.40% + 5p | 1.60% + 7p |
Quick Links
Revolut
Revolut is revolutionising the way individuals and businesses handle transactions by offering a direct, efficient solution for accepting payments on iPhones. Emphasising convenience and security, Revolut provides an innovative payment feature that caters to a wide audience, from freelancers to small business owners, looking to streamline their payment processes without the need for additional hardware.
Features
Revolut’s Tap to Pay on iPhone encompasses several key features designed to enhance the payment experience for both the payee and their customers:
Broad Compatibility: Enables acceptance of payments from contactless-enabled Visa and MasterCard debit and credit cards, as well as digital wallets like Apple Pay.
No Additional Hardware: Transforms any iPhone into a payment terminal, eliminating the need for external card readers.
Immediate Transaction Processing: Offers real-time processing of payments, directly into your Revolut account.
High Security: Ensures transactions are secure, leveraging the latest encryption and security technology to protect sensitive information.
Convenience: Facilitates payments anywhere, anytime, making it ideal for businesses on the go or in varied locations.
Seamless Integration: Integrates smoothly with the Revolut app for comprehensive financial management, including tracking sales and accessing funds.
Pricing
| Account Type | Monthly Fee (£) | Yearly Fee (£) | Included Cards | Transaction Fee (%) |
|---|---|---|---|---|
| Business – Scale | 100 | 948 | 1 Plastic, 2 Metal, 200 Virtual | 1.7% per transaction |
| Business – Grow | 25 | 228 | 1 Plastic, 1 Metal, 200 Virtual | 1.7% per transaction |
| Business – Basic | 0 | 0 | 1 Plastic, 200 Virtual | 1.7% per transaction |
| Business – Enterprise | Custom | Custom | Custom | 1.7% per transaction |
| Pro – Metal | 14.99 | 140 | N/A | 1.7% per transaction |
| Pro – Premium | 7.99 | 80 | N/A | 1.7% per transaction |
| Pro – Plus | 3.99 | 40 | N/A | 1.7% per transaction |
| Pro – Standard | 0 | 0 | N/A | 1.7% per transaction |
| Pro – Ultra | 55 | 540 | N/A | 1.7% per transaction |
| Pro – Joint Account | 0 | 0 | N/A | 1.7% per transaction |
Here’s the information organised into a spreadsheet format, detailing the subscription fees, included cards, and transaction fees for Revolut’s Business and Pro account holders that support the Tap to Pay feature:
Pros
- Cost-Effective: No need to purchase additional hardware, and competitive transaction fees make it an economical choice.
- Ease of Use: Simple activation and a user-friendly interface ensure transactions are processed quickly and efficiently.
- Versatility: Accepts a wide range of payment methods, catering to customers’ preferences.
- Portability and Convenience: Offers the flexibility to take payments in various settings without the need for traditional POS systems.
- Immediate Access to Funds: Quick processing times mean funds are immediately available in your Revolut account.
Cons
- Device Limitation: It is currently available only for iPhone users, potentially limiting accessibility for businesses or individuals using other devices.
- Internet Dependence: Requires a stable internet connection to process transactions, which could be a limitation in areas with poor connectivity.
SumUp
SumUp, a leading provider of payment solutions, offers a comprehensive range of POS software and hardware tailored for various business needs. From restaurants to retail shops, SumUp’s solutions are designed to streamline payment processes, enhance customer experience, and boost business efficiency.
Features
User-Friendly Interface: Designed for ease of use with free onboarding assistance.
High-Level Security: All data is encrypted, with customer information deleted post-transaction.
Compliance: Fully compliant with PCI DSS, TLS, SSL, and uses 256-bit encryption.
24/7 Technical Support: Accessible via an online questionnaire for inquiries any time of the year.
Delivery Management Tools: For businesses to manage orders from multiple locations through SumUp’s dashboard.
Diverse Payment Options: Supports most major debit and credit cards and digital wallets like Google, Samsung, or Apple Pay.
Accounting and Finance Management: Integration with Xero for streamlined financial oversight.
Sales Management: Detailed, automatically generated sales reports with customisable filters.
Smart Invoicing and Payment Links: Tools to create invoices and payment links for easy online transactions.
Pricing
| Model | Price (buy) (£ + VAT) | Fees (In person) | Fees (Manually entered) | Mobile Phone Required | Built-In Printer |
|---|---|---|---|---|---|
| SumUp Air | £39 | 1.69% | 2.5% | Yes | No |
| SumUp Solo | £79 | 1.69% | 2.5% | No | No |
| SumUp Solo and Printer | £139 | 1.69% | 2.5% | No | Yes |
Pros
- Cost-Efficiency: Competitive transaction rates and no hidden fees.
- Flexibility: No additional subscription fees; supports UK-issued and international cards along with major digital wallets.
- Trial Offer: One-month trial for the tap-to-pay feature and POS software.
Cons
- Device Limitation: Tap to pay is exclusive to iPhone devices.
- Industry Restrictions: Not available to merchants in high-risk industries.
- Customer Support: Lack of direct phone support, requiring email or Help Centre contact.
Zettle Reader
Zettle by PayPal offers innovative, cloud-based POS software and hardware solutions tailored for a wide range of businesses, from cafes to specialised stores. Its intuitive Zettle Go app facilitates easy access to business finances, sales, and products from anywhere, enhancing operational efficiency across the board.
Features
Offline Mode: Ensures business continuity by capturing transaction data offline, syncing once reconnected to the internet.
Multiple Payment Methods: Supports a comprehensive array of payment options including major credit/debit cards, digital wallets, and chip & pin transactions.
Real-Time Data Reports: Automatically generated reports provide insights into transactions, sales revenue, and inventory, available for download at any time.
Security and Compliance: Adheres to PCI PTS 4.1 standards with additional encryption for ultimate data security.
Sale Analytics: Daily analysis helps identify sales trends, popular products, and performance metrics for strategic planning.
QR Code Payments: Offers QR code payment solutions specifically for iPad devices, expanding payment flexibility.
Digital Invoices: Enables the creation and email distribution of digital invoices directly from the app.
Employee Management: Integrated staff management features help oversee schedules, leave days, and performance metrics.
Pricing
Pros
- Wide Range of Business Applications: Zettle caters to various businesses, including restaurants, retail stores, and service-oriented establishments, offering versatility in its applications.
- Comprehensive Payment Options: Supports an extensive array of payment methods, including major credit and debit cards, digital wallets, and chip & pin transactions, accommodating the diverse preferences of customers.
- Offline Functionality: The ability to operate in offline mode ensures that businesses can continue to process transactions without interruption, even in the absence of internet connectivity.
- Real-Time Analytics and Reports: Provides instant access to sales, revenue, and inventory data, enabling businesses to make informed decisions quickly.
Cons
- Hardware Dependency for Certain Features: Some functionalities, like QR code payments, require specific hardware (e.g., iPad devices), which may entail additional investments.
- Chargeback Protection Limitations: While Zettle offers chargeback protection, it’s capped at £250 per month, and Manual Card Entry transactions are excluded, which may not fully cover the needs of larger businesses.
- Device Compatibility for Tap to Pay: The Tap to Pay feature is restricted to newer models of smartphones, potentially limiting its use for businesses or employees with older devices.
- Transaction and Invoice Fees: While competitive, the fixed transaction fees (1.75% per transaction) and invoice fees (2.5% per invoice) may add up, especially for businesses with high volumes of transactions or invoicing needs.
Dojo
Dojo Go emerges as a smart POS terminal solution, ideal for small businesses seeking a mobile card machine that combines speed, efficiency, and aesthetic appeal. Founded in 2019 as part of Paymentsense, Dojo has quickly distinguished itself by offering competitively low fees, rapid transactions, and flexible contract terms designed to accommodate the varying needs of modern businesses.
Features
- Rapid Transactions: With an interface and internal system designed for speed, Dojo Go processes card payments up to 80% faster than the industry standard, minimising wait times and enhancing customer satisfaction.
- Next-Day Bank Transfers: Unique in the industry, Dojo guarantees next-day payouts at 10 am, including weekends and bank holidays, ensuring swift access to cash flow for businesses.
- Seamless EPOS Integration: Compatible with over 600 EPOS systems, Dojo Go integrates smoothly into existing setups, allowing for synchronised transactions and streamlined operations.
- Mobile Connectivity: Equipped with mobile connectivity, Dojo Go provides a reliable backup to Wi-Fi connections, ensuring continuous operation without interruption.
Pricing
| Product | Description | Base Price (£ + VAT) | Notes |
|---|---|---|---|
| Tailor-Made Kits | Custom hardware kits with choice of cash registers, QR scanners, and printers. Includes free setup and syncing. | £189 | Additional VAT, delivery rates, and fees apply. |
| Payment Terminal Device | Payment terminal with pre-built POS software, supports various payment methods and optional QR code scanning. | £149 | Additional VAT, delivery rates, and fees apply. Price can vary with added QR code scanner. |
| Card Reader | Portable card payment reader, supports contactless, chip & pin, and major digital wallets. Optional countertop device. | £29 | Price may vary if adding a countertop device. Additional VAT and fees apply. |
Pros
- Speedy Transaction Processing: Enhances customer experience by reducing wait times.
- Reliable Next-Day Payouts: Ensures quick access to funds, aiding in better cash flow management.
- Comprehensive EPOS Integration: Offers compatibility with a wide range of systems, enabling seamless operations.
- Versatile Payment Solutions: Supports a variety of payment methods, including online and phone transactions, broadening the scope of business capabilities.
- Attractive Design: Features a modern, aesthetically pleasing device that complements the business environment.
Cons
- Monthly Fee Viability: The cost-effectiveness of the monthly fee is contingent on achieving sufficient sales volumes, potentially making it less suitable for businesses with lower transaction levels.
- Contractual Commitment: While offering flexibility, the requirement for a 6-month contract might still be a constraint for businesses seeking utmost flexibility.
myPOS
myPOS offers a comprehensive suite of payment solutions designed to cater to a wide array of business sectors across Europe, from transportation and hospitality to retail and professional services. Established to facilitate both in-person and online transactions effortlessly, myPOS stands out with its secure, versatile, and user-friendly payment systems.
Features
- High-Security Certification: Adhering to the highest PCI DSS standards, myPOS ensures that all transactions are secure and protected against fraud.
- Data Encryption and Safeguard: Utilising Europe-based TIER 4 data centers, myPOS offers robust data encryption and real-time fraud surveillance.
- Two-Factor Verification: Adds an extra layer of security to transactions, with customisable limits for processed amounts.
- Versatile Third-Party Integrations: myPOS is compatible with numerous third-party applications like Xero, SageOne, and Quickbooks, enhancing business operations.
- E-commerce and Online Payment Gateway: Features include a Checkout option for managing online sales and multiple payment methods for a seamless shopping experience.
- Tipping and Multi-User Functionality: Integrated tipping options and the ability to manage multiple user accounts make myPOS a flexible choice for businesses of all sizes.
- Gift Cards and Online Tracking: Offers gift card creation and comprehensive online tracking for sales and employee performance across multiple locations.
| Service/Feature | Cost |
|---|---|
| myPOS Account & IBAN | Free |
| Internal Payment Transfers | Free |
| Bank Transfer Funding | Free |
| Inter-account Money Transfers | Free |
| myPOS Go 2 (Sale Price) | £29 |
| myPOS Go Combo (Sale Price) | £129 |
| myPOS Pro | £229 |
| Tap To Pay Feature – Starter Plan | 1.60% + £0.07 per transaction |
| Tap To Pay Feature – Pro Plan | £4.90/month, 1.10% + £0.07 per transaction |
| In-Person Payment – EEA & UK Cards | 1.10% + £0.07 per transaction |
| In-Person Payment – AMEX | 2.45% + £0.07 per transaction |
| In-Person Payment – Other Cards | 2.85% + £0.07 per transaction |
| Online Payment – UK Cards | 1.30% + £0.15 per transaction |
| Online Payment – AMEX | 2.50% + £0.15 per transaction |
| Online Payment – Other Cards | 2.90% + £0.15 per transaction |
| Telephone Payment Surcharge | +1.00% per transaction |
| Debit Card Issuance | Free |
| Debit Card Reissuance/Replacement | Free (expiration) / £10 (loss/damage) |
| Additional Debit Cards | £5 per card |
| Withdrawal Fee (>£300) | £4 |
| Withdrawal Fee (<£300) | £2 |
Pros
- No Recurring Fees: myPOS does not charge any yearly or monthly subscription rates, making it a cost-effective solution for businesses of all sizes.
- Instant Access to Funds: Payments processed through myPOS are instantly credited to the merchant account, facilitating better cash flow management.
- Multi-Currency IBAN Account: The provision of an IBAN account that accepts multiple international currencies is a significant advantage for businesses operating globally.
- Wide Range of Payment Options: myPOS supports a broad spectrum of payment methods, including major credit and debit cards and popular digital wallets like Apple Pay, Google Pay, and Samsung Pay.
- Digital and E-commerce Payment Solutions: Besides physical transactions, myPOS offers digital payment solutions through web links and virtual terminals, as well as free eCommerce integration for online shop development.
- Robust Security Measures: With high PCI DSS certification, data encryption, and two-factor verification, myPOS ensures a secure transaction environment.
Cons
- Account Limitation: All transactions are processed exclusively into the myPOS merchant account, which might limit flexibility for businesses accustomed to using multiple bank accounts.
- Withdrawal Fees: Although withdrawals are available, the fees for withdrawing money from the myPOS Mastercard can be higher compared to other banks, especially for frequent cash access.
- Extensive Verification Process: Setting up a myPOS merchant account involves a comprehensive verification process, which might be seen as burdensome by some business owners.
- Inactivity Fees: Accounts not used for over 10 months are subject to inactivity fees, potentially affecting seasonal businesses or those with fluctuating transaction volumes.
- Daily Withdrawal Limits: There are daily limits on the amount that can be withdrawn from the myPOS Mastercard, which could inconvenience businesses needing larger cash withdrawals.
- Higher Fees for Certain Transactions: The transaction fees for non-consumer cards and some specific payment types are higher, which might not be ideal for businesses with a high volume of such transactions.
What is a mobile point of sale?
A mobile point of sale (mPOS) system enables businesses to accept credit card payments using a mobile device like an iPhone. It typically consists of a card reader device that can be plugged into its headphone jack or connected wirelessly through Bluetooth. Along with the card reader, an app is installed on the iPhone to facilitate payment.
The importance of having a mobile point of sale for accepting credit card payments on an iPhone cannot be overstated. It allows businesses to conveniently and securely process transactions, whether a tap, insert, or swipe payment. With an mPOS, business owners can accept payments on the go, even in remote or temporary locations where setting up a traditional payment terminal may not be feasible.
An mPOS offers flexibility to businesses by providing multiple payment options. Customers can pay using contactless methods, such as Apple Pay or Google Pay, or by physically inserting or swiping their credit cards. This variety of payment options caters to customer preferences and enhances overall customer satisfaction.
Furthermore, an mPOS streamlines the transaction process by eliminating the need for paper receipts. Digital receipts can be easily sent to customers via email or text, reducing paper waste and providing a more eco-friendly solution.
In summary, a mobile point of sale is an essential tool for businesses to accept credit card payments on an iPhone. It offers convenience, flexibility, and a seamless transaction experience, ensuring businesses can provide their customers with a modern and efficient payment solution.
How to accept credit card payments on an iPhone
Getting started with accepting credit card payments on your iPhone is easier than ever with the help of a mobile point of sale (mPOS). Here is a step-by-step guide to help you set up and start accepting card payments on your iPhone:
1. Choose a Provider: Research and select a trusted mPOS provider that suits your business needs. Popular providers include iZettle, SumUp, and Square.
2. Sign Up: Sign up for an account with your chosen provider. This usually involves providing some basic information about your business.
3. Order a Card Reader: Once you’ve signed up, order a card reader compatible with your iPhone. These devices are typically small and lightweight, plugging into the iPhone’s charging port.
4. Install Relevant App: Download the provider’s app from the App Store. This app will serve as your payment processing platform.
5. Link Card Reader to iPhone: Follow the instructions provided by your provider to connect the card reader to your iPhone. Usually, this involves pairing the device via Bluetooth.
6. Start Accepting Payments: With your card reader connected and the app installed, you can accept credit card payments on an iPhone. Enter the transaction amount on the app, insert, swipe, or tap the customer’s card on the card reader, and follow the on-screen instructions.
It’s worth noting that mobile point-of-sale providers like iZettle, SumUp, and Square offer affordable pricing plans with transparent transaction fees. These providers offer additional features such as sales tracking, inventory management, and customizable receipts.
By diligently following these straightforward steps, you can effortlessly initiate the process of accepting credit card payments on an iPhone, offering your customers a seamless payment experience.
Frequently Asked Questions
What is a Mobile Point of Sale (mPOS)?
A mobile point of sale system enables businesses to process credit card payments using mobile devices like iPhones. It involves a card reader that connects to the phone and an app to manage transactions, offering a flexible and portable solution for sales.
Why is having a Mobile Point of Sale important for iPhone users?
An mPOS system is crucial for iPhone users in business as it allows for convenient, secure, and versatile payment processing on the go. It supports various payment methods, including contactless and digital wallets, and streamlines the transaction process with features like digital receipts.
How can businesses accept credit card payments on an iPhone?
To start accepting credit card payments on an iPhone, businesses need to select a mobile point of sale provider, sign up for an account, order a card reader, install the provider’s app, and link the card reader to their iPhone. Providers like iZettle, SumUp, and Square offer user-friendly platforms with competitive transaction fees.
What are the benefits of using an mPOS system?
The benefits of using an mPOS system include the ability to accept payments anywhere at any time, catering to customer payment preferences, reducing wait times, and enhancing overall customer satisfaction. Additionally, mPOS systems offer digital receipt options and integrate with business management tools for a streamlined operation.
Are there any challenges or limitations with mPOS systems?
While mPOS systems offer numerous advantages, there are some considerations to keep in mind. These include the dependency on mobile connectivity, the initial cost of purchasing card readers, and the need for ongoing maintenance and updates to the app and hardware. However, for many businesses, the benefits outweigh these challenges.
Final words
In the dynamic realm of modern commerce, mastering credit card transactions is paramount for businesses striving for efficiency and growth. The advent of mobile point of sale (mPOS) systems, particularly those optimised for iPhones, has revolutionised the payment landscape. These systems offer businesses of all sizes a seamless solution to process transactions swiftly, enhance customer satisfaction, and optimise financial management.
Empowering businesses with the flexibility to accept payments anytime, anywhere, mPOS systems stand as a beacon of convenience and versatility. Whether you’re a freelancer on the move or managing a bustling storefront, integrating an mPOS into your operations can catalyse productivity and elevate the customer experience. With features ranging from real-time data analytics to robust security protocols, these systems offer a comprehensive toolkit for modern businesses to thrive in today’s competitive market.
As we embrace the transformative potential of mPOS technology, it’s imperative to foster a dialogue among fellow entrepreneurs and industry professionals. Share your insights, experiences, and challenges in the comments below. Let’s embark on a journey of collaboration and knowledge-sharing, empowering each other to harness the full potential of mobile point of sale systems and navigate the ever-evolving landscape of commerce with confidence and success.
